Difference between young and old boss - (Jan/22/2008 )
I guess it all depends on the person and maybe like in any other field of work, no matter the age, some bosses can be so driven while others so laid back hence, it would be difficult to generalise but I agree with the others that there's usually a trend..the young ones, those who still have to prove their worth, are sometimes more psychotic

my half-cent,
casandra
PS...your lady boss a slave driver eh? I wonder who make better bosses...ladies or men?
I agree with Minnie Mouse and smu. Working with a husband and wife team is not a great idea (I am in that situation right now). As for working with an older professor or younger professor, you need to find out if what they are doing in their lab is important to you as well as if you will be funded working with them. Try to find a mentor that will allow you to work on a project of your choice if possible. Another suggestion -- make sure your mentor will MENTOR you and not just assume you know how to find information.
Young boss has more drive and vision. They will make sure everything is there to work comfortably. Older boss would expect one to adapt and improvise. Well, you choose.
a young boss will maybe face difficulties to get funds (my boss' case).
Older one may realize after 2 years he got a new student...

Same here.
That's a HUGE question...
- Life time relationship
If your grad school experience goes well, or at least okay, your relationship with your advisor is a life long one... Now, if he/she is as old as Moses, that relationship isn't going to last long.
Keep in mind, in Academia, networking is imperative and your advisor is SUPPOSED to be a good source, and they have many more connections in academia as well as industry... This is helpful in advancing YOUR career.
- FUNDING
Younger advisors are struggling for funds and they may actually not get them
Older advisors tend to be set and there's much less worry about funding....
This is a huge deal. I HAVE seen people with young advisors that did not get funding and they had to work without pay or change labs.. that can add years to grad school.
- Tenure
older advisors tend to be tenured, hence no force on earth short of the power of GOD Himself can fire them...
Younger advisors are pretty low on the academic food chain... they feed on grad students.